Private equity firm invests in earplugs manufacturer Alpine

02 January 2019 3 min. read

Vendis Capital, a private equity fund with a focus on consumer brands, has invested in Alpine, a Dutch company that manufactures earplugs and hearing protection products.

Commenting on the deal, Peter de Roode, founder and current CEO of Alpine, said that he believes Vendis Capital is the right partner for Alpine to embark on its next growth phase. “We believe in the qualities Vendis Capital will add to Alpine’s development. They bring a reputation of adding value and are highly familiar with the consumer brands industry.” 

For Vendis Capital, the participation in Alpine represents the eighth investment of its €180 million Vendis Capital II fund, which was launched in 2015. Other consumer brands as part of its portfolio include Fatboy, a design brand; Kamera Express, an omnichannel retailer in the market for photo and video equipment; and Noppies, a specialised maternity wear and baby fashion brand.

“Alpine fits Vendis’ investment criteria very well – it presents a leading brand offering premium products through a strong go-to market platform, well positioned for further growth. We are excited about partnering up with Alpine and are confident to grasp the available growth potential together,” said Vincent Braams, a partner at the private equity firm.

Private equity firm invests in earplugs manufacturer Alpine

Established in 1994 by Peter and Lisette de Roode, the founders were one of the pioneers in the Benelux in the space for innovative hearing protection products. They were early in acknowledging the impact of (temporary) damage to the hearing, and saw the potential of developing a line of products that helps people enhance their comfort when they work, sleep, drive, fly, swim or party. The Soesterberg headquartered company develops products such as earplugs, earmuffs and otoplastics, with the products also popular among its users for its ability to proactively prevent hearing damage, medically known as tinnitus.

Building on its product innovation and high-end brand positioning, Alpine has seen strong growth in recent years – with the firm’s products currently sold in more than 50 countries worldwide, through offline as well as online channels. 

As part of the investment, Arthur van Keeken, a leader with previous experience at fast moving consumer goods giants Friesland Campina and Nestlé, will join Alpine as the firm’s new Chief Executive Officer (CEO). “Arthur brings significant experience from his past roles and will lead Alpine in its next growth phase,” explained Braams.


The transaction was supported by M&A advisors from Oaklins, M3 Consultancy, RSM, Houthoff and CORP. Adse de Kock, Oscar van Leeuwen and Sander van 't Spijker, all from corporate finance advisory Oaklins, provided sell-side advisory to Alpine, while Marcel Vlaar, Steef van Kuijen, Mariëla Segers and Stefan Boersma from RSM supported Vendis Capital with transaction services. The buyer was further advised by Barry Hoogendoorn and Suzanne Bras from supply chain specialist M3 Consultancy – they provided an expert view and forward look on Alpine’s operations and logistics activities. Houthoff (Bram Caudri, Guillette van Grinsven, Floor de Graaff) and CORP (Paul van den Belt, Edith Hendriks) served as legal consultants to the deal.

“Thanks to everyone on the team who made the Alpine transaction a successful and well-managed process,” concluded founder and current CEO Peter de Roode.